USA slaps new sanctions on Venezuela

Venezuela's future constitution, to be written by a new assembly packed with allies of President Nicolas Maduro, will be put to a referendum, the pro-government lawmakers said Thursday, according to The Manila Times.

Venezuelan oil minister Nelson Martinez and state oil company president Eulogio Del Pino will switch roles as the South American country's production wanes and money dries up.

"What do they want?"

"Obviously, the USA has a lot of influence over the Venezuelan economy", an administration official told reporters. He said it would be meant to pave the way for a United States military intervention.

"We will not stand by as Venezuelacrumbles", the White House said in a statement. The people who described the move did so on condition of anonymity and declined to provide details on the sanctions that would be imposed.

A woman held a sign at the event that read, "Venezuelan resistance asks for military resistance".

Trump's order allows the U.S. Treasury to provide licenses for dealings in select existing Venezuelan debts and many commercial and humanitarian transactions, including those for commercial trade and petroleum trade as well as for transactions involving only PDVSA's U.S. unit, Citgo Petroleum.

Last month, the Trump administration slapped sanctions on 13 current and former officials of Maduro's government, freezing their assets in the United States and preventing Americans from doing business with them. The opposition boycotted the vote to elect the body's 545 delegates.

The protests have since waned as a constitutional assembly wholly made up of government loyalists has been installed and proceeded to go after Maduro's political opponents.

Several prominent opposition mayors have been removed or ordered arrested by the pro-government supreme court.

Vice President Mike Pence telegraphed Friday's action during a speech Wednesday at Our Lady of Guadalupe Catholic Church in Doral, Florida.

Libertad is the Spanish word for freedom.

"No military actions are anticipated in the near future", McMaster responded when asked about the possibility of intervention in Venezuela by USA forces. But it's unclear how quickly the impact on the streets will be felt. The official stressed the announcement is not a long-rumored oil embargo.

On Friday, journalists were invited to a shooting range at Caracas' main military base to watch as troops taught a handful of civilian government supporters how to fire assault weapons.

Quintana said it is smart not to target the oil industry, which could hurt the US economy and cost American jobs.

"Nicolas Maduro has financed his regime by hollowing out Venezuela through economic mismanagement, corruption and the assumption of onerous debt", Mnuchin said in a briefing with reporters.

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